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Requlred Informetlon [The following information applies to the questions displayed below. Simon Company's year-end balance sheets follow. At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets 2816 $ 27,862 89,688 111,58e 8,715 $31,634 $ 62, 788 82,58e 31,672 54, 18e 59,88e 3,519 8, 384 198,76 288,445 162, 389 445, 326 383,982 $318,68e $114,213 66,826 $ 42,229 7e, 782 63.63835 169 Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $19 par value Retained earnings Total liabilities and equity 86, 233 162,580 162, 50 162 98,946 445, 326 383,982 $318,68e The company's income statements for the years ended December 31, 2017 and 2016, follow. Assume that all sales are on credit For Year Ended December 31 Sales Cost of goods sold Other operating expenses Interest expense Income taxes Total costs and expenses Net income 2817 2816 $578,924 456, 843 353,144 179,466 9,842 7,526 $296,948 115, 581 18,587 6,853 549.97 429.889 $26,954 1.66 $ 28,946 Earnings per share 1.78 (4) Compute days' sales in inventory. Choose Numerator:Choose Denominator: ys Days' Sales In Inventory -Days' sales in inventory 2017 days 2016 days

Explanation / Answer

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Days sales in inventory Ending inventory / Cost of goods sold x 365 = 2017 $                111,500 / $                   353,144 x 365 = 115.2433568 Days 2016 $                  82,500 / $                   296,948 x 365 = 101.4066436 Days

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